I'm 7 months into my IVA and so far have nothing but good things to say.
I have received a payrise at work but this will be offset due to childcare payments.
My Question is: my original debt was for £9000 but due to my IVA the figured owed is now £6000 if I was to pay off my creditors while in an IVA i.e. I owe £160 overdraft and £900 to very so if I paid off the overdraft and a chunk towards very, would this affect my IVA positively as in would I owe less?
No! You cannot and must not favour one creditor over another. Debts have to be repaid fairly and pro rata to all creditors. If you do pay off a debt it is possible to have the IVA failed.
Who are you with ? An IVA for £9,000 seems a little heavy handed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/
Unless you had assets you would have been better doing a DRO or bankrupty. Do you still have debts not included in your IVA?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.